Only 4.4% of surveyed Nigerian crypto holders have over $1,000 as their crypto balance

Key takeaways

The majority of Nigerian crypto holders (70.6%) have balances below $100
Only 4.4% of Nigerians hold over $1,000 in their crypto wallets, indicating low high-value ownership
Wallets with balances between $100 and $500 account for 19.4%, showing moderate adoption
The data highlights that most Nigerians engage with crypto at a low-value level, possibly due to financial limitations or speculative testing

Crypto ownership in Nigeria remains largely low-value, with over 70 percent of holders keeping less than $100 in their wallets. Only a small fraction surpasses the $1,000 mark, suggesting limited deep investment. Mid-range balances between $100 and $1,000 account for around a quarter of holders, showing some level of commitment. These numbers indicate that while crypto adoption is widespread, many Nigerians may still be testing the waters or facing financial constraints that limit significant investments. For broader adoption, improved financial inclusion and trust in the market could encourage larger holdings.

Source:

Busha's Cryptocurrency/Digital Assets Adoption Report 2024

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Period:

2024

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